hi ng I talked with management the other day and they said they...

hi ng
I talked with management the other day and they said they had a few holders ringing up about a supposed cap raising at 4c, I laughed and explained that a post i wrote about a past cap raising at 4c was misconstrued as an upcoming cap raising at 4c, so my apologies to those who misread the contents.
as for future cap raisings imho we will have one it is only a matter of when, if we get good results from the alluvial circuit from day one then why wouldn't bgf equity or some other instituition come calling with a fat bag of cash, they want to get in early once it has been derisked but that might cost them 10c, some of us scooped up as much as we could at 1.5c because we don't mind the risk, i mean this was good enough to pay 3.3c 2 years ago 1.5c was an opportunity i couldn't pass. if we have our forestry permit then it would be better to have enough cash to have multiple alluvial sites than just one, to have double the number of geologist teams exploring for the source instead of waiting for the cash to become available via one gravity circuit.
we have burnt on average for the last 3 quarters
$912 000 per quarter, we have $4.0mill to cover the next 4 quarters and 1.0mill in the bank and with a growing presence on the ground i can't see our cash burn rate tapering off, plan A is to have the alluvial circuit up and running and covering any shortfall but what is plan B if plan A doesn't work.
with the gold price on the decline and uranium on the nose i have doubts we could liquidate those assets in SA as easy as management want us to believe, and if things are all rosy in south africa why couldn't mintails just cough the 4.0mill according to the previous agreement, industrial relations in south africa are at an all time low, and gold producers without a good hedge book will be struggling the more the gold price comes off.
last year i trusted the management of another company without question because they made me wealthy, seemed decent, honest, switched on, but then things went the opposite direction and management downplayed any concerns raised until it was all revealed in the quarterly and the share price collapsed, i sold out and put it all into wwi but i won't be trusting any management of any company any time soon, i just have faith, faith that they are smart enough to make themselves rich from derewo and all of us along the way.
my xmas wish list would be as follows; forestry permit, exceptional recoveries from alluvial circuit, share price of 10c, 5mill placement to sophisticated investors/instituition, significant upgrade to exploration and production activities,and hopefully that could set us up for a run at $1 per share.

good luck and kind regards
timmo